Depreciation Recapture on Sale: Will I Have to Pay Back All My Tax Savings?
Will I have to pay back all my tax savings? No, when you sell a property after claiming depreciation, you do not pay back all the tax savings; … Read more
Archives: Resources
Missed the R&D Tax Credit? How to Claim Credits Retroactively by Amending Returns
If you’ve previously filed your tax returns without claiming the Research & Development (R&D) Tax Credit, you can capture those missed opportunities retroactively by amending prior year … Read more
Short-Term vs. Long-Term Rentals: How Material Participation Affects Your Tax Losses
The key difference between long-term and short-term rentals lies in the average rental period: properties rented for an average of more than seven days are generally passive … Read more
When Is the Best Time to Conduct a Cost Segregation Study?
The absolute best time to conduct a Cost Segregation study is as soon as possible after purchasing or constructing a property, as this allows you to immediately apply … Read more
Who Files Form 3115 After Cost Segregation – My CPA or Engineering Tax Services?
Your CPA is typically the one to file IRS Form 3115 (Application for Change in Accounting Method) on your behalf after a Cost Segregation study, as they … Read more
Selling Your Property Within 5 Years: How Does Depreciation Recapture Work?
Does depreciation recapture work if you sell within 5 years? Yes, depreciation recapture applies no matter how long you own the property; there is no special … Read more
What Does the IRS Define as a Quality Cost Segregation Report?
The IRS Audit Technique Guide (ATG) defines a quality Cost Seg report by six primary hallmarks that ensure the study is credible, reliable, and able to withstand scrutiny, … Read more
What is 45L & How Does Engineered Tax Services Help Claim This Credit?
The §45L credit for energy-efficient housing is a federal incentive designed to reward builders and developers who produce residential units that meet certain energy-efficient standards, such as … Read more
Can I Do Cost Segregation on a Condo Property I’m Developing and Selling the Units?
Can I Do Cost Segregation on a Condo Property I’m Developing and Selling the Units? Generally, no, Cost Segregation is designed for properties you hold as income-producing … Read more
What is Qualified Improvement Property (QIP) and How Does it Work?
Qualified Improvement Property (QIP) refers to certain interior improvements made to non-residential (commercial) buildings after the building has been placed in service, and it works by giving those … Read more